Bitcoin Bears Targeting $6,000

4 Feb 2018

Currency Pair: BTC.USD
Time Frame: Daily, 4hr, 1hr & 5min
Predicted Direction: Short

Live BTC.USD updates will be available in the comments section below.

4 Feb 2018

Nota

4 Feb 2018

Nota

The 1hr pullback is now underway after rejecting $8,000
Expect price to hit the 8.7k level into tomorrow's London session.

5 Feb 2018

Nota

A shallow pullback to $8450
For the 3rd time price is trying to break below $7946 which in my opinion is key to continue the bearish pressure.

5 Feb 2018

Nota

I just wanted to update regarding the 4hr TF.
Although a bearish candle it still hasn't closed below the key $7946 which is required to confirm the LL.

5 Feb 2018

Nota

Price has now run directly into Daily support.
We have 48 mins until the 4hr candle closes which would confirm the continued downside.

5 Feb 2018

Nota

CCN wrote - China is reportedly aiming to block all websites, both domestic and foreign, related to cryptocurrency trading and initial coin offerings (ICOs) in what could be the country’s final crackdown on the industry.

For me this would be hugely detrimental news should China take action.

4hr candle now closed below the key $7946 level which confirms a new LL, a pullback / consolidation period would form a new LH prior to a continued break towards $6100

5 Feb 2018

Nota

Price continues to gravitate towards $0, however as price continues to fall for me there its only a matter of time before we see a pullback to value on the Daily TF.

For me value would come in at $10,500 however no long opportunities available until we see a trend change on the 4hr TF.

6 Feb 2018

Nota

Price is now approaching in my opinion the final substantial support ( Daily TF ) $6106 & $5530
I will be looking for long opportunities into today.

6 Feb 2018

Nota

The final 3 support levels have been identified.